Dear experts,
I have bought a resale house jointly with my spouse from an NRI seller. The seller obtained a lower tds certificate prior to the sale registration, and we deducted tax according to the rate mentioned in the certificate. The certificate was valid till 31st march and we paid our challans before the deadline. Now we got the tds returns prepared and filed form 27Q, but my spouse got a notice for short deduction and default amount for the same. Upon investigation, we found that the lower tds certificate number to my spouse's name was not correctly mentioned in the tds return statement, due to which IT department has raised demand of full 20.8% tax instead of the lower deduction.
could you please let me know how to resolve this issue? Is it possible to correct the certificate number in tds return statement without paying any default?
CAclubindia
